{
  "url": "https://openlegislation.uk/open-ended-investment-companies-regulations-2001/regulation-38",
  "json_url": "https://openlegislation.uk/open-ended-investment-companies-regulations-2001/regulation-38.json",
  "legislation": "uksi/2001/1228",
  "legislation_title": "The Open-Ended Investment Companies Regulations 2001",
  "legislation_url": "https://openlegislation.uk/open-ended-investment-companies-regulations-2001",
  "path": "regulation/38",
  "kind": "regulation",
  "number": "38",
  "heading": "Capacity of company",
  "text": "(1) The validity of an act done by an open-ended investment company cannot be called into question on the ground of lack of capacity by reason of anything in these Regulations, FCA rules or the company’s instrument of incorporation.\n(2) Nothing in paragraph (1) affects the duty of the directors to observe any limitation on their powers.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Words in Regulations substituted (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), Sch. 2 para. 41(2)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2001/1228/regulation/38",
    "retrieved_at": "2026-10-29T07:52:42.307916+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}